Warner Bros. Discovery (NASDAQ:WBD) Price Target Raised to $13.00 at The Goldman Sachs Group

Warner Bros. Discovery (NASDAQ:WBD) had its price target boosted by The Goldman Sachs Group from $11.50 to $13.00 in a report published on Tuesday, Marketbeat Ratings reports. They currently have a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Guggenheim reaffirmed a “buy” rating on shares of Warner Bros. Discovery in a research note on Tuesday, June 10th. Benchmark reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Warner Bros. Discovery in a research note on Monday, July 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research note on Friday, September 12th. Raymond James Financial lowered their price objective on shares of Warner Bros. Discovery from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Finally, Sanford C. Bernstein lifted their price objective on shares of Warner Bros. Discovery from $13.00 to $16.00 and gave the stock a “market perform” rating in a research note on Monday, September 22nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.64.

Warner Bros. Discovery Stock Up 3.6%

WBD stock opened at $19.53 on Tuesday. Warner Bros. Discovery has a 52 week low of $7.25 and a 52 week high of $20.24. The company has a market capitalization of $48.35 billion, a price-to-earnings ratio of 65.10, a price-to-earnings-growth ratio of 2.41 and a beta of 1.59. The firm’s 50-day moving average is $14.10 and its two-hundred day moving average is $11.36. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.92.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.79. Warner Bros. Discovery had a net margin of 2.00% and a return on equity of 2.14%. The company had revenue of $9.81 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the previous year, the firm earned ($4.07) EPS. Warner Bros. Discovery’s revenue was up 1.0% on a year-over-year basis. On average, analysts forecast that Warner Bros. Discovery will post -4.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Gunnar Wiedenfels sold 530,793 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $19.50, for a total transaction of $10,350,463.50. Following the completion of the sale, the chief financial officer directly owned 1,141,150 shares of the company’s stock, valued at approximately $22,252,425. This represents a 31.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bruce Campbell sold 150,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $18.00, for a total transaction of $2,700,000.00. Following the sale, the insider directly owned 252,464 shares of the company’s stock, valued at approximately $4,544,352. This represents a 37.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 970,115 shares of company stock valued at $17,818,490 over the last ninety days. Corporate insiders own 1.80% of the company’s stock.

Institutional Trading of Warner Bros. Discovery

Large investors have recently modified their holdings of the company. WPG Advisers LLC acquired a new position in Warner Bros. Discovery during the 1st quarter valued at $26,000. Financial Gravity Asset Management Inc. acquired a new position in Warner Bros. Discovery during the 1st quarter valued at $27,000. Financial Gravity Companies Inc. acquired a new position in Warner Bros. Discovery during the 2nd quarter valued at $29,000. North Capital Inc. acquired a new position in Warner Bros. Discovery during the 1st quarter valued at $28,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in Warner Bros. Discovery during the 1st quarter valued at $29,000. 59.95% of the stock is owned by institutional investors.

Warner Bros. Discovery Company Profile

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.